MIRA INFORM REPORT

Report No. :	301899
Report Date :	09.01.2015

IDENTIFICATION DETAILS

Name :	TIRUMALA BALAJI ALLOYS PRIVATE LIMITED
Registered Office :	1/1, Camac Street, 3^rd Floor, Kolkata – 700016, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.03.2004
Com. Reg. No.:	21-195282
Capital Investment / Paid-up Capital :	Rs.155.000 Millions
CIN No.: [Company Identification No.]	U27101WB2004PTC195282
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCM8947J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Ferro Chrome.
No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	INDIA RATINGS AND RESEARCH
Rating	Long term rating = BBB-
Rating Explanation	Moderate degree of s
Date	April 17, 2014

Rating Agency Name	INDIA RATINGS AND RESEARCH
Rating	Short term rating = A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	April 17, 2014

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Santosh
Designation :	Account Department
Contact No.:	91-33-22298877
Date :	03.01.2015

LOCATIONS

Registered / Head Office :	1/1, Camac Street, 3^rd Floor, Kolkata – 700016, West Bengal, India
Tel. No.:	91-33-22298877
Fax No.:	91-33-22297223
E-Mail :	mb@bhaskargroup.com
Works :	Jindal Industrial Park, Sector ‘A’ Vill.- Punjipathra, Tahsil-Gharghoda, District-Raigharh – 496001, Chhattisgarh, India
Tel. No.:	91-7767-288042 / 288052
Fax No.:	91-7767-288031 / 43
E-Mail :	tbapl_rgh@yahoo.co.in

DIRECTORS

As on 18.08.2014

Name :

Mr. Manish Rungta

Designation :

Managing director

Address :

5 K, New Road, Alipore, Kolkata – 700027, West Bengal, India

Date of Birth/Age :

15.01.1971

Date of Appointment :

10.09.2013

DIN No.:

00385130

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L29299WB1982PLC035339	MAK ENGINEERING INDUSTRIES LIMITED	Director	20/12/1989	20/12/1989	-	Active	NO
2	U27209WB1991PTC053456	BHASKAR WIRES PRIVATE LIMITED	Director	03/08/1993	03/08/1993	-	Active	NO
3	U51909WB1946PTC013987	BENGAL GENERAL TRADING CO. PRIVATE LIMITED	Director	01/04/1995	01/04/1995	-	Active	NO
4	U70109WB2009PTC135025	VASHITA PROPERTIES PRIVATE LIMITED	Director	11/05/2009	11/05/2009	-	Active	NO
5	U51909WB1996PTC076543	WHITESTONE CONSULTANTS PRIVATE LTD	Director	30/06/2009	30/06/2009	-	Active	NO
6	U51109WB1988PTC044161	TULSYAN & SONS PRIVATE LTD	Director	10/08/2009	10/08/2009	-	Active	NO
7	U93000WB2010NPL143680	BANKURA PLASTO STEEL PARK DEVELOPMENT CLUSTER	Director	15/03/2010	15/03/2010	-	Active	NO
8	U74210WB1989PTC046619	PARTH ISPAT (INDIA) PRIVATE LIMITED	Director	30/09/2013	10/12/2012	-	Active	NO
9	U27101WB2004PTC195282	TIRUMALA BALAJI ALLOYS PRIVATE LIMITED	Managing director	12/08/2013	02/05/2013	-	Active	NO
10	U70102WB2013PTC194852	Krishay Properties Private Limited	Director	19/06/2013	19/06/2013	-	Active	NO
11	U27320WB2013PLC195006	Vashita Ferro Alloys Limited	Director	25/06/2013	25/06/2013	-	Active	NO
12	U27310WB2013PLC194991	Krishay Castings Limited	Director	25/06/2013	25/06/2013	-	Active	NO
13	U85300WB1929NPL006235	BENGAL ROWING CLUB	Director	19/07/2013	19/07/2013	-	Active	NO
14	U74999WB2012PTC175248	RITMAN COMMODITIES PRIVATE LIMITED	Director	03/09/2013	03/09/2013	06/03/2014	Active	NO
15	U74999WB2012PTC175109	SIDHSILVER SUPPLIERS PRIVATE LIMITED	Director	03/09/2013	03/09/2013	-	Active	NO
16	U74999WB2012PTC175105	MANGALKRIPA MARKETING PRIVATE LIMITED	Director	03/09/2013	03/09/2013	-	Active	NO
17	U27310WB2013PTC197128	TirumalaBalaji Exim Private Limited	Director	10/09/2013	10/09/2013	-	Active	NO
18	U51109WB2006PTC108547	NAVDURGA MERCANTILE PRIVATE LTD	Director	28/09/2013	28/09/2013	-	Active	NO
19	U27310WB2014PTC199396	TRIVIKRAM ALLOYS PRIVATE LIMITED	Director	30/09/2014	20/01/2014	-	Active	NO
20	U70102WB2014PTC200141	Trafalgar Realty Private Limited	Director	11/02/2014	11/02/2014	-	Active	NO
21	AAB-6203	EO EVENTS ACT LLP	Designated Partner	02/07/2013	02/07/2013	-	Active	NO

Name :

Mr. Manoj Kumar Baheti

Designation :

Whole-time director

Address :

A Shiv Thakur Lane, Kolkata – 700007, West Bengal, India

Date of Birth/Age :

04.02.1978

Date of Appointment :

10.09.2013

DIN No.:

00562913

PAN NO.:

AHMPB0300R

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L51109WB1995PLC071126	BHASKAR SHRACHI ALLOYS LTD	Director	31/07/2006	31/07/2006	02/12/2013	Active	NO
2	U51109WB2005PTC103855	FUSION MERCHANTILE PRIVATE LIMITED	Director	13/02/2008	13/02/2008	18/05/2010	Active	NO
3	U45400WB2008PTC129057	VR PROPERTIES PRIVATE LIMITED	Director	04/09/2008	04/09/2008	-	Active	NO
4	U74210WB1989PTC046619	PARTH ISPAT (INDIA) PRIVATE LIMITED	Director	23/09/2009	01/10/2008	-	Active	NO
5	U27101WB2004PTC195282	TIRUMALA BALAJI ALLOYS PRIVATE LIMITED	Whole-time director	22/09/2009	15/06/2009	-	Active	NO
6	U27320WB2013PLC195006	Vashita Ferro Alloys Limited	Director	25/06/2013	25/06/2013	-	Active	NO
7	U27310WB2013PLC194991	Krishay Castings Limited	Director	25/06/2013	25/06/2013	-	Active	NO
8	U74999WB2012PTC175248	RITMAN COMMODITIES PRIVATE LIMITED	Director	03/09/2013	03/09/2013	-	Active	NO
9	U27310WB2013PTC197128	TirumalaBalaji Exim Private Limited	Director	10/09/2013	10/09/2013	-	Active	NO

Name :

Mr. Amitabh Sharma Mudgal

Designation :

Director

Address :

B-305, Navin Society, Plot – 13, Sector – 5, Dwarka, New Delhi – 110045, India

Date of Birth/Age :

03.04.1964

Date of Appointment :

01.03.2004

DIN No.:

00468084

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74999CT2002PLC000144	MONNET DANIELS COAL WASHERIES LIMITED	Director	22/07/2002	22/07/2002	08/10/2010	Active	NO
2	U10102DL2002PTC116287	AP COAL WASHERIES PRIVATE LIMITED	Director	22/07/2002	22/07/2002	-	Active	NO
3	U27101WB2004PTC195282	TIRUMALA BALAJI ALLOYS PRIVATE LIMITED	Director	01/03/2004	01/03/2004	-	Active	NO
4	L70102CT2002PLC015040	MONNET PROJECT DEVELOPERS LIMITED	Director	18/02/2006	18/02/2006	-	Active	NO
5	L51103CT1982PLC009717	MONNET INDUSTRIES LIMITED	Director	18/02/2006	18/02/2006	-	Active	NO
6	U10100DL2008PLC175417	MANDAKINI COAL COMPANY LIMITED	Director	14/03/2008	14/03/2008	-	Active	NO
7	U10100MP2009SGC022639	MP MONNET MINING COMPANY LIMITED	Managing director	23/09/2013	16/11/2009	-	Active	NO
8	U10100DL2010PLC199690	Urtan North Mining Company Limited	Director	04/03/2010	04/03/2010	-	Active	NO
9	U74999DL2010PTC204428	CHATTEL CONSTRUCTIONS PRIVATE LIMITED	Additional director	18/10/2010	18/10/2010	19/02/2011	Active	NO
10	U74899DL1990PTC042166	CHOMAL EXPORTS PRIVATE LIMITED	Director	02/12/2010	02/12/2010	-	Active	NO
11	U27310DL2006PLC149610	MONNET ENGINEERING AND INFRASTRUCTURE LIMITED	Director	20/09/2011	12/02/2011	-	Active	NO

Name :

Mr. Durgesh Behari Mathur

Designation :

Director

Address :

44D, Block G, Kanchanjang Apartments, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

01.04.960

Date of Appointment :

22.09.2009

DIN No.:

00468011

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51909DL2002PTC180585	NOURISH ORGANIC FOODS PRIVATE LIMITED	Director	24/10/2005	24/10/2005	19/07/2014	Active	NO
2	L51102CT2002PLC015041	MOUNTEVEREST TRADING AND INVESTMENT LIMITED	Director	18/02/2006	18/02/2006	-	Amalgamated	NO
3	U13209CT2004PLC017066	MAA BAMLESHWARI MINES AND ISPAT LIMITED	Director	16/01/2008	16/01/2008	19/07/2014	Active	NO
4	U27109CT2004PTC016620	RAMESHWARAM STEEL AND POWER PRIVATE LIMITED	Director	17/04/2008	17/04/2008	19/07/2014	Active	NO
5	U27101WB2004PTC195282	TIRUMALA BALAJI ALLOYS PRIVATE LIMITED	Director	22/09/2009	15/06/2009	-	Active	NO
6	U74999DL2010PTC204428	CHATTEL CONSTRUCTIONS PRIVATE LIMITED	Additional director	18/10/2010	18/10/2010	19/02/2011	Active	NO
7	U74900HR2011PTC044377	MAGNUM MAINTENANCE SERVICES PRIVATE LIMITED	Director	30/10/2012	17/02/2012	-	Active	NO
8	U70100DL2010PTC207989	GALAXY MONNET INFRAHEIGHTS PRIVATE LIMITED	Director	29/09/2012	21/02/2012	17/09/2014	Active	NO
9	U10100DL2010PLC199690	Urtan North Mining Company Limited	Director	24/09/2013	01/08/2013	23/11/2013	Active	NO
10	U74900DL2011NPL228633	MONNET SPORTS FOUNDATION	Additional director	20/08/2013	20/08/2013	09/10/2013	Active	NO

Name :

Mr. Ashish Rungta

Designation :

Director

Address :

5 K, New Road, Alipore, Kolkata – 700027, West Bengal, India

Date of Birth/Age :

23.06.1977

Date of Appointment :

01.03.2004

DIN No.:

00394925

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U70101WB1995PTC074152	BHASKAR PROPERTIES PRIVATE LIMITED	Director	11/09/1995	11/09/1995	-	Active	NO
2	L65993WB1978PLC031393	BHASKAR INDUSTRIAL DEVELOPMENTS LIMITED	Director	01/03/1996	01/03/1996	10/09/2009	Active	NO
3	U27104WB1990PLC050102	SURYA ALLOY INDUSTRIES LIMITED	Managing director	01/01/2013	16/05/1996	-	Active	NO
4	U27106WB1988PTC045542	MANASH FORGINGS Private LIMITED	Director	07/01/1999	07/01/1999	22/06/2009	Active	NO
5	U27101WB2004PTC195282	TIRUMALA BALAJI ALLOYS PRIVATE LIMITED	Director	01/03/2004	01/03/2004	-	Active	NO
6	U51909WB1996PTC076543	WHITESTONE CONSULTANTS PRIVATE LIMITED	Director	28/04/2006	28/04/2006	24/08/2009	Active	NO
7	L51109WB1995PLC071126	BHASKAR SHRACHI ALLOYS LIMITED	Managing director	01/08/2008	28/08/2007	02/07/2012	Active	NO
8	U51909DL1996PTC204913	BRIGHTSUN MERCHANTS PVT LIMITED	Director	12/02/2008	12/02/2008	15/03/2010	Active	NO
9	U74210WB1989PTC046619	PARTH ISPAT (INDIA) PRIVATE LIMITED	Director	23/09/2009	20/07/2009	-	Active	NO
10	U27310WB2014PTC199395	TRIVIKRAM STRUCTURALS PRIVATE LIMITED	Director	09/01/2014	09/01/2014	-	Active	NO
11	U70102WB2014PTC199856	TRIVIKRAM ESTATES PRIVATE LIMITED	Director	29/01/2014	29/01/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Santosh
Designation :	Account Department

MAJOR SHAREHOLDERS

As on 18.08.2014

Names of Shareholders (Equity Shares)	No. of Shares
Ashish Rungta	5000
Amitava Sharma Mudgal	10
Sudha Jajodia	235000
Nikunj Jajodia	499990
Mahendra K. Jajodia	265000
Ashish Rungta	245000
Garima Rungta	250000
Sabina Rungta	500000
Total	2000000

Names of Shareholders (Preference Shares)	No. of Shares
Annapurna International Private Limited, India	388000
Rogers Agencies Private Limited, India	1000
Mahendra Shipping Limited, India	1000
Kamdhenu Enterprises Limited, India	15500
Crystal Beverages Private Limited, India	63000
Cecil Webber Engineering Limited, India	14000
Monnet Properties Private Limited, India	1500
Pavitra Commercial Limited, India	16000
Rogers Engg. Private Limited, India	35000
Tulsyan and Sons Private Limited, India	50000
Whitestone Consultants Private Limited, India	50000
Bhaskar Ispat Private Limited, India	40000
Monnet Ispat and Energy Limited, India	140000
Sabina Rungta	267500
Garima Rungta	267500
Total	1350000

As on 18.08.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing of Ferro Chrome.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information declined by the management.

Bankers :

Banker Name	State Bank of India
Branch Address	Commercial Branch, Gurudwara Road, M.P. Housing Board Colony Industrial Estate, Bhilai – 490026, Chattisgarh, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Loans taken for vehicles	0.627	1.716
SHORT TERM BORROWINGS
Working capital loans from banks	90.652	74.921
Total	91.279	76.637

Auditors :
Name :	O.P. Bagla and Company Chartered Accountants
Address :	8/12, Kalkaji Extension, New Delhi -110019, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFO1030A
Memberships :	Not Available
Collaborators :	Not Available
Associates :	Parth Ispat (India) Private Limited, India

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/-each	Rs.20.000 Millions
1400000	Preference Shares	Rs.100/-each	Rs.140.000 Millions
	Total		Rs.160.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/-each	Rs.20.000 Millions
1350000	Preference Shares	Rs.100/-each	Rs.135.000 Millions
	Total		Rs.155.000 Millions

FINANCIAL DATA

[All figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	155.000	155.000	155.000
(b) Reserves & Surplus	249.785	205.211	162.250
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	404.785	360.211	317.250
(3) Non-Current Liabilities
(a) long-term borrowings	0.627	1.716	3.296
(b) Deferred tax liabilities (Net)	46.722	44.616	44.499
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	2.059	1.810	1.477
Total Non-current Liabilities (3)	49.408	48.142	49.272
(4) Current Liabilities
(a) Short term borrowings	90.652	74.921	55.804
(b) Trade payables	210.502	165.092	116.239
(c) Other current liabilities	14.269	41.109	23.086
(d) Short-term provisions	6.260	10.747	5.827
Total Current Liabilities (4)	321.683	291.869	200.956
TOTAL	775.876	700.222	567.478
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	254.508	249.978	260.786
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	14.593	5.493
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	43.478	26.928	26.928
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	297.986	291.499	293.207
(2) Current assets
(a) Current investments	0.000	6.725	0.000
(b) Inventories	121.297	112.698	25.471
(c) Trade receivables	83.409	23.270	31.609
(d) Cash and cash equivalents	36.146	6.548	4.492
(e) Short-term loans and advances	225.517	253.641	206.346
(f) Other current assets	11.521	5.841	6.353
Total Current Assets	477.890	408.723	274.271
TOTAL	775.876	700.222	567.478

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	TOTAL INCOME	1863.700	702.500	718.700
Less	EXPENSES	1763.868	613.436	624.161
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	99.832	89.064	94.539
Less	FINANCIAL EXPENSES	12.230	4.822	9.232
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	87.602	84.242	85.307
Less/ Add	DEPRECIATION/ AMORTISATION	17.001	16.630	16.386
	PROFIT/ (LOSS) BEFORE TAX	70.601	67.612	68.921
Less	TAX	22.889	21.514	20.625
	PROFIT/ (LOSS) AFTER TAX	47.712	46.098	48.296
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	114.522	0.000	11.288
	TOTAL EARNINGS	114.522	0.000	11.288
	IMPORTS
	Carbon Electrode Paste	109.588	11.845	43.926
	Components and Stores parts	42.461	0.000	0.000
	TOTAL IMPORTS	152.049	11.845	43.926
	Earnings / (Loss) Per Share (Rs.)	23.86	23.05	24.15

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	2.56	6.56	6.72
Operating Profit Margin (PBDIT/Sales)	(%)	5.35	12.67	13.15
Return on Total Assets (PBT/Total Assets}	(%)	9.10	9.86	12.26
Return on Investment (ROI) (PBT/Networth)		0.17	0.19	0.22
Debt Equity Ratio (Total Liability/Networth)		0.23	0.21	0.19
Current Ratio (Current Asset/Current Liability)		1.49	1.40	1.36

FINANCIAL ANALYSIS

[All figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	155.000	155.000	155.000
Reserves & Surplus	162.250	205.211	249.785
Net worth	317.250	360.211	404.785
long-term borrowings	3.296	1.716	0.627
Short term borrowings	55.804	74.921	90.652
Total borrowings	59.100	76.637	91.279
Debt/Equity ratio	0.186	0.213	0.225

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	718.700	702.500	1863.700
		(2.254)	165.295

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	718.700	702.500	1863.700
Profit	48.296	46.098	47.712
	6.72%	6.56%	2.56%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

CURRENT OPERATIONS AND FUTURE PROSPECTS

In the year under report, the Company has generated total income of Rs. 1863.700 Millions in comparison to Rs. 702.500 Millions in the previous financial year. During the year under report, the company has earned Net Profit after Tax to the tune of Rs. 47.700 Millions. The Directors are hopeful of achieving better results in the years to come.

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10250427	28/10/2010	35,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, HOUSING BOARD COLONY, BHILAI, Chhattisgarh - 490026, INDIA	A99102253
2	10001573	16/07/2010 *	126,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, GURUDWARA ROAD, M.P. HOUSING COLONY, INDUSTRIAL ESTATE, BHILAI, Chhattisgarh - 490026, INDIA	A92498393
3	10001572	23/05/2013 *	200,000,000.00	STATE BANK OF INDIA.	COMMERCIAL BRANCH , GURUDWARA ROAD,, M.P. HOUSING  BOARD COLONY INDUSTRIAL ESTATE,BHILAI, BHILAI, Chhattisgarh - 490026, INDIA	B77566727

FIXED ASSETS

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.96
UK Pound	1	Rs.94.97
Euro	1	Rs.74.42

INFORMATION DETAILS

Information Gathered by :	HTL
Analysis Done by :	SUB
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.